The billionaire Reimann family’s investment vehicle is unwinding its luxury holdings, putting shoemakers Jimmy Choo Plc and Bally International AG up for sale to focus on the food and beverage operations it has spent billions expanding in recent years.

The Vienna-based family’s JAB Holding Co. said Monday it’s reviewing strategic options for both companies at a time when it’s snapping up U.S. coffee chains and a China-led revival in demand has boosted luxury valuations.

“We consider disposals of JAB’s luxury business make sense as they do not offer the same cost synergy advantages as the company’s other businesses in the fast-moving consumer goods sector,” Jeanine Arnold, senior analyst at Moody’s, said in a note.

The announcements signal the end of a nearly decade-long involvement in high-end shoemaking for JAB that started when its Labelux unit bought Bally in 2008. More recently, the closely held company has fixed its focus on food and beverages, buying the likes of Caribou Coffee Co., Krispy Kreme Doughnuts and Panera Bread.

Jimmy Chooshares rose 11 percent to close at a record 186.50 pence in London, valuing the company at about 706 million pounds ($832 million).

JAB said it has made a “strategic decision” to focus on consumer goods, including a 37 percent stake in cosmetics maker Coty Inc. The announcement made no mention of British jacket-maker Belstaff, which also forms part of JAB’s luxury-goods portfolio.

Jimmy Choo, whose fans have ranged from the late Princess Diana to the fictional Carrie Bradshaw of “Sex and the City,” was acquired by private-equity investors three times before being bought by JAB for more than 500 million pounds in 2011. JAB sold a stake in a 2014 initial public offering, though with a 68 percent holding remains the company’s majority owner.

The shoemaker is “under-represented in ‎many markets,” Antoine Belge, an analyst at HSBC, said by email. “The issue is that the company underestimated the cost of retail expansion. Being part of a larger group could help in that regard.”

The company’s revenue rose 15 percent last year to 364 million pounds, boosted by the fall in the pound since the U.K.’s vote to leave the European Union, which increases the value of overseas sales when converted into the British currency.

Jimmy Choo could attract interest from luxury companies in Asia, the U.S. and Europe, as well as private-equity firms, according to people familiar with the matter. JAB is likely to gauge takeover interest among companies such as Michael Kors Holdings Ltd., LVMH, Kering and Coach Inc., in addition to billionaire brothers Victor and William Fung, who control Li & Fung Ltd. of Hong Kong, the people said. Mayhoola for Investments LLC, the Qatari royal family’s investment fund, could also look at the shoemaker as a way to bolster its luxury presence, they said.

“What remains to be seen is whether growing interest from Asia and the Middle East for luxury U.K. brands will see Jimmy Choo receiving offers from foreign buyers searching for well-known British brands,” said Jonathan Buxton, partner and head of consumer at Cavendish Corporate Finance.

Andrea Resnick, a Coach spokeswoman, declined to comment on “rumors and speculation.” LVMH, Michael Kors and Kering declined to comment and the Fungs and Mayhoola did not respond immediately.

The sale process is likely to be completed by the end of the summer, Jimmy Choo said, adding that it had not received any approaches.

Bally, known for suede driving shoes and leather man bags, was previously owned by U.S. buyout firm TPG Inc., which struggled to turn it around after years of losses. At the time it was acquired by Labelux, it had more than 400 million Swiss francs ($402 million) in annual sales.

The Bally review is expected to be completed in the second half of this year, JAB said.

Bank of America Merrill Lynch and Citigroup are handling the auctions of both Jimmy Choo and Bally, according to JAB statements.

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Cocktail Chronicles

In today's society people invest a lot into their leisure time. Often times they are seeking cozy intimate environments to meet friends, other singles, co-workers or business clients while escaping their everyday environments loosening up and relaxing. Often, the first question you’re asked at an establishment is “what can I start you off with to drink.” Cocktail Chronicles will provide you with the knowledge to confidently order your drink, the language which to engage in dialogue with your peers who are wine/beer/spirits connoisseurs, and perhaps the initiative to try a cocktail out of the ordinary for your palate. .
Je’ Wesley Day has over 15 years of experience working in the bar and restaurant industry. He has worked in restaurants since the early age of 13 years old in Chicago, and in the nightclubs of New York City before opening his own restaurant/bar in Atlanta, Georgia in 2013. Je’ also has a passion for journalism and marketing and received a Bachelor’s Degree in Communications from Northern Illinois University. Subsequently, he worked as a television host for WYCC Public Broadcast Station in Chicago. Then he received his MBA in Marketing from Keller Graduate School of Management, which brought opportunities to work for corporate giants such as L’Oreal, USA and Coca-Cola in marketing/sales management roles. Je’ Wesley is currently a Doctor of Education Student at Argosy University that permits him to work as an Adjunct Professor instructing students in Marketing, Leadership, and Entrepreneurship courses at the University of the People starting the Fall of 2015.
Je’ Wesley’s goal is to combine his passions for the spirits and journalism industries and couple it with his thirst for continuous education by providing consumers with the online digital media website of “Cocktail Chronicles”. Cocktail Chronicles mission is to inform and educate consumers on wine, beers, spirits and non-alcoholic beverages. The goal is to provide knowledge that assist consumers in being confident, smart, aware, and responsible in their cocktail and beverage selections.
Je’ Wesley is no stranger to leadership as he has presided over local organizations such as Alpha Phi Alpha Fraternity Incorporated (both undergraduate and graduate levels), the NAACP, Young Democrats of Illinois, former Treasurer of the National Association of Black Journalists (NABJ) Digital Journalists Taskforce and the former Community Relations Chairman for the Atlanta Association of Black Journalists (AABJ). He is presently a member of NABJ, AABJ, United States Bartenders Guild, the Georgia Restaurant Association, National Black MBA Association and Atlanta’s Buckhead Toastmasters Club.
To enhance his academic and leadership credentials Je’ Wesley has earned the following certifications:
• Wine Certification
• Mixology Certification
• Georgia’s SafeServ Certification
Turn to the expert, Je’ Wesley and Cocktail Chronicles, for your knowledge of cocktails. Then, read reviews on handcrafted drinks, learn the best places to go for great drinks under $21 in your major cities, retrieve crafty drink recipes to try at home and much more at www.cocktailchron.com .